Mortgage Rates on the Downward Slope

By Stevie Duffin Updated on 2/3/2015

A low ISM New York reading (down to 44.5 from the previous 70.8) is not affecting mortgage bond trading much today, especially with a large fuss being made over European activity. MBS are holding their ground in the face of the Euro insecurity; watch for dropping mortgage interest rates. 

For other potential mortgage rate movers, check back tomorrow for ISM manufacturing and ADP employment numbers, Thursday for international trade and the usual jobless claims for unemployment benefits, and of course Friday for the January jobs report.

Monday: Mortgage bonds are in weaker territory today, although this week will present ample opportunity for market movement and mortgage rate shifts, especially in light of Friday's major jobs report and some overseas action. We'll fill you in as the information arrives. For now, watch for rising mortgage interest rates.

Bookmark this page for daily mortgage rate updates:

• 30 year (FRM) rates at 3.57% (+0.02).
• 15 year (FRM) rates at 2.97% (+0.02).
• FHA 30 year Fixed rates at 3.25% (0.00).
• Jumbo 30 year Fixed rates at 3.59% (+0.01).
• 5/1 ARM rates at 3.10% (-0.03).